INTERNET BUSINESS NEWS-(C)1995-2004 M2 COMMUNICATIONS LTD

Swedish gaming and gaming solutions company Cherryforetagen AB said on Wednesday (9 June) that it had agreed to acquire a 10% holding in the Swedish games developer Aciago AB.

Aciago develops and provides online games for the Asian market. The company operates the gaming site http://www.mrhwatu.com which is the first web site outside South Korea to offer the traditional Korean/Japanese card game Hwatu.

Cherryforetagen and Aciago have signed a cooperation agreement under which Aciago's Hwatu game will be commercialised on the Internet platform of Net Entertainment, a subsidiary of Cherryforetagen.

As part of the cooperation Cherryforetagen will invest SEK3m in the game over two years.

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